Access Bank’s price is completing either a running flat or an expanded flat Elliot wave pattern as wave (x) thus price can bottom btw N0.20 – N6.80….MACD is showing a potential double bottom chart pattern which is a bullish signal.
Let’s watch the market in the coming trading days to see if the trend remains bearish or changes into a potential bullish signal….
- The bulls have it !!!
- Technically, we expect Access to top between N11 – N13.56
- Fundamentally, Access has a fair value of N12
- Caution !!!!…..Access is simply in a short/intermediate term bear rally and should resume it’s long-term bear trend within 1-Q-2019….enjoy the ride !!!